Coinbase Commerce Adds Support For USDC Stablecoin

Coinbase Commerce, the PayPal-like payment service for cryptocurrencies by the U.S.-based cryptocurrency exchange Coinbase, added support for USD Coin (USDC) stablecoin on its payment service platform.

Businesses of merchants can now accept USDC stablecoin using the platform. USDC is a 1:1 US dollar-backed stablecoin brought to you by Circle and Coinbase.

Coinbase Commerce, said by accepting USDC stablecoin, merchants enjyo stable price as each USDC is backed by an US dollar. There are also no transaction fees, no chargebacks, and full control over funds without the volatility associated with cryptocurrencies.

Coinbase Commerce was launched in February last year to enable merchants to accept payments in multiple cryptocurrencies such as Bitcoin directly into a user-controlled wallet. It enables businesses to accept payments online in the same way as they are able to accept cash in-store.

USDC stablecoin can be accepted without geographical limitations or the need for a traditional bank account, unlike accepting credit card payments.

In October last year, Coinbase had added support for USDC stablecoin, making it the first stablecoin to trade on the cryptocurrency exchanges Coinbase and Coinbase Pro platform. Stablecoins like USDC are more advantages than cash as it is nearly immune to inflation and volatility.

The exchange recently extended crypto trading support for stablecoin USDC to customers in 85 countries on Coinbase and Coinbase Pro.